16. borrower takes out a 30-year mortgage loan for $300,000 with an interest rate of 5% and monthly payments. What portion of the first month's payment would be applied to loan balance?

$360.46

$1,100

$300.46

$1,200.90

17.A borrower takes out a 30-year adjustable rate mortgage loan for $200,000 with monthly payments. The first two years of the loan have a "teaser" rate of 3%, after that, the rate can reset with a 2.5% annual rate cap. On the reset date, the composite rate is 6%. What would the Year 3 monthly payment be?

$1,118.41

$1,240.30

$1,100.20

$1300.00

18.A borrower has a 25-year mortgage loan for $200,000 with an interest rate of 3% and monthly payments. If she wants to pay off the loan after 10 years, what would be the outstanding balance on the loan?

$137,336.40

$135,333.30

$125,000.20

4139,445.20

19.A borrower has a 30-year mortgage loan for $250,000 with an interest rate of 4.5% and monthly payments. If she wants to pay off the loan after 7 years, what would be the outstanding balance on the loan?

$217,565.14

$220,445.20

$219,000.24

$214,330.10